๐ธ๐ป๐ฐ Big news from El Salvador! ๐ฐ๐ธ๐ป
President Nayib Bukele has revealed that El Salvador has significantly bolstered its Bitcoin holdings by moving over 5,000 BTC into a cold wallet โ doubling the country's known stash of the digital asset! ๐ผ๐
Describing it as "a big chunk," Bukele proudly showcased the new setup, dubbing it "our first #Bitcoin piggy bank." ๐ท๐ผ This cold wallet, safely stored in a physical vault within the nation's borders, now houses an impressive 5,689.68 BTC, valued at a whopping $411 million at current prices! ๐ฐ๐
This revelation shatters previous estimations of El Salvador's Bitcoin treasury, with public trackers previously placing it at less than 3,000 BTC. ๐๐ Bukele hinted earlier this week that the country's Bitcoin acquisition methods extended beyond simple purchases, including passport sales, currency conversions, mining, and government services. ๐ก๐ผ
This move marks the first time El Salvador has tied its holdings to a specific address, showcasing the transparency and confidence in their Bitcoin strategy. ๐๐ Since becoming the first country to adopt Bitcoin as a treasury asset in September 2021, El Salvador's holdings have skyrocketed in value, reflecting the asset's meteoric rise in price. ๐๐ฅ
The majority of the Bitcoin transferred to El Salvador's cold wallet originated from Bitfinex, highlighting the country's strategic approach to managing its digital assets. ๐๐ผ
With this bold move, El Salvador solidifies its position as a global leader in Bitcoin adoption, paving the way for other nations to follow suit! ๐๐ #BitcoinRevolution #CryptoLeadership ๐ธ๐ป๐ช